Does ICON (ICX) Have what it Takes for the Needed Price Boost?

As the toppers are descending against the fiat or merely rising up despite the negative trend, ICON is somehow managing to acquire around 2%, while Coin Gecko is reflecting a 3.6% gain against the fiat in the last 24 hours. Despite the stubborn spike against the fiat, does ICON have what it takes to take off for the needed price boost?

On October 14th, despite the questionable current state of the market when the majority of top rated currencies are either barely progressing against the fiat or dropping, ICON (ICX) seems to be blissfully excepted with rising up by around 2% in accordance with Coin Market Cap.

As Coin Gecko reports, ICX made it up by 10% in the course of the last 24 hours, while it, later on, declined to 3.6% up against the dollar, still trading in the green. However, the long-term state of its price is what most probably interests ICX investors as the end of the last quarter of 2018 is getting closer.

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At the beginning of January of the current year, in what was definitely a mass surge, the majority of crypto assets headed for their record prices when ICX scored 11$ per one unit back at the time.

The price of ICX seems to be changing for better in a matter of hours at the time of this writing, so ICON made it by a few additional percents, going from 2.76% to 8.5% against the fiat as shown on Coin Market Cap and Coin Gecko.

Moreover, ICON lost around -94% against the fiat since reaching its all-time high, but its current progress in the market cannot be unseen as the currency is being traded in the green both on weekly and monthly charts for two months now, showcasing a steady growth.

Precisely the recent price boosts can turn out to be a condition for another needed boost in the value of ICX as the coin is still being traded far from its record price.

ICON (ICX) and Samsung Partnership

One of the evident reasons why many investors still believe in ICON (ICX) among hundreds of currencies barely withstanding crisis for the last couple of months is the partnership that ICON made with Samsung back in May of the current year.

What is interesting that back at the time when Samsung and ICON announced their agreement, ICON was the 19th best currency, while this spot now belongs to VeChain Thor (VET), ICX being pushed down to the spot 36, on October 14th becoming the 35th largest currency thanks to the latest rises.

Samsung is known to be one of the leading tech developers, also famous by their top-selling smartphones, that way making up for a really important milestone within ICX operations.

Since the project named Chain ID that ICX and Samsung are working on together with Korean Financial Blockchain Investment Consortium should be massively used with new products that ought to be developed by the tech giant, ICON still has a chance of getting closer to the nearest milestone of 1$ driven by this applied blockchain-inspired use case.

As the price of ICX is still showing progress, slowly climbing towards breaking the value of 0.70$, currently being traded at the price of 0.63$, ICON might get a chance to progress further in the market exploiting the power of “hyperconnectivity” and the network called ICONLOOP.

One of the potential aces that ICON foundation might hold up their sleeves is the partnership the team made with SK Holdings approximately a month back.

The partnership has as a goal to take blockchain to financial systems, finding another payable use case to this South Korean currency best known by interconnecting various blockchain-based projects.

Ripple (XRP) already showed how far can a crypto asset go when intervened with financial systems, being the third-largest crypto, so ICON might have at least a similar experience as its peer.

SK Holdings will work together with ICON foundation to bring blockchain solutions to financial industry, and since the protocol of ICX is neatly designed to support high-end authentication, the project should target financial brokers, banks, insurance companies, and other financial business models, offering blockchain solutions to all financial services.

However, ICON might not be able to achieve the same success as Ripple in the industry of finances as the project will be targeting small and medium-sized financial institutions and business. Still, the MOU signed with SK Holding as well as the application of technology through the initial project might provide the needed boost for ICON by the beginning of Q1 of 2019.

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